Cases of suspension of auditors from audit practice in Vietnam

Cases of suspension of auditors from audit practice in Vietnam

Circular 05/2025/TT-BTC has amended and supplemented Clause 1 of Article 12 of Circular 202/2012/TT-BTC, stipulating that practicing auditors are suspended from auditing practice under the following circumstances:

- Being administratively sanctioned for independent auditing activities twice within a continuous period of 36 months;

- Using an expired or invalid Certificate of Registration for Auditing Practice in auditing activities (if at the time the violation is detected, the individual is a practicing auditor);

- Failing to comply with the authority's regulations regarding inspections and audits related to independent auditing activities;

- Using information related to audit files, clients, or audited units to infringe upon the interests of the State, public interest, or the legal rights and interests of agencies, organizations, or individuals;

- Signing an audit report while not being a practicing auditor (if at the time the violation is detected, the individual is a practicing auditor);

- Failing to prepare an audit file for an audit or other assurance services;

- Conducting an audit, signing an audit report, or review work result report for a public interest entity without approval from the Ministry of Finance to audit for public interest entities;

- Signing an audit report or review work result report for a public interest entity while being suspended or having approval for auditing for public interest entities revoked;

- Conducting an audit, signing an audit report for a public interest entity for more than 5 consecutive financial years;

- Failing to meet the required number of annual knowledge update hours as prescribed by the Ministry of Finance;

- Violating the circumstances under which practicing auditors are prohibited from auditing as stipulated in Article 19 of the Law on Independent Auditing 2011;

- Allowing other organizations or individuals outside of their current employment unit to rent, borrow, or use their Auditor's Certificate to register for auditing practice, or registering for auditing practice at a unit where they are not actually working on a full-time employment contract;

- Committing serious professional misconduct or serious violations of auditing standards or professional ethics in accounting and auditing.

More details can be found in Circular 05/2025/TT-BTC effective from January 24, 2025.

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